Prime Minister Narendra Modi on Sunday urged the BRICS Business Council to work closely with the New Development Bank (NDB) on identifying and implementing prospective economic projects.

He further said India has undertaken substantial reforms in the last two years to streamline and simplify governance, especially doing business within the country.

Speaking at the BRICS Business Council PM Modi outlined points for it to achieve.

Here is the full speech of PM Modi during the BRICS Business Council meet:

It gives me great pleasure to welcome you to this meeting with the BRICS Business Council.

The Council reflects the full economic diversity and depth of business engagement between our countries.

I thank their contribution to the BRICS agenda of building inclusive economies through responsive and collective solutions.

Excellencies and Friends,

Promoting economic and commercial engagement has been a foundational impulse in the creation of BRICS.v It is, therefore, encouraging to see the BRICS Business Council take healthy shape three years after we set it up in Durban.

Our business communities are the strongest proponents for closer and faster commercial cooperation among BRICS.

In India, we have undertaken substantial reforms in the last two years to streamline and simplify governance, especially doing business in India.

The results are clearly visible.

We have moved up in almost all global indices that measure such performances.

We have transformed India into one of the most open economies in the world today.

Growth is strong and we are taking steps to keep the momentum going.

I am happy to note that the BRICS Business Council also has matching priorities of ease of doing business, dismantling trade barriers, promoting skills development, establishing manufacturing supply chains and infrastructure development.

The Council’s work holds much promise for expansion of trade and business among BRICS countries.

Excellencies,

The New Development Bank is fully operational now. Its success is a concrete result of our common efforts.

We congratulate the NDB and its management for commencing the first batch of projects.

NDB has kept clean energy and green and sustainable infrastructure as its priority.

We welcome it.

We would encourage the BRICS Business Council to work closely with the NDB on identifying and implementing prospective economic projects.

India hosted the First BRICS Trade Fair in New Delhi two days ago with active participation from all your countries.

Such activities must be promoted to generate greater business awareness and commercial exchanges.

Excellencies,

Let me conclude by saying that as Governments, we count on the BRICS Business Council to work with us to achieve our common aim of: